JOHOR BARU: The local small and medium-scale enterprises (SMEs) have been advised to prepare themselves for the New Economic Model (NEM) to remain relevant in the nation building.

International Trade and Industry Minister (Miti) Datuk Seri Mustapa Mohamed said the SMEs should look at improving their productivity, skills and willingness to invest in technology.

“The Government via its related agencies is willing to assist the SMEs but they must take the initiative to improve their performances,” he said at the opening of the Entrepreneurs Expo 2010 organised by SME Bank Bhd at Plaza Angsana shopping complex near here.

He said the main objective of the NEM was to transform Malaysia into a high-income economy and spur greater economic development.

Mustapa said with higher skills and productivity outlined in the NEM, Malaysia would be able to attract more foreign direct investments and remain as the preferred investment destination.

He said the SMEs should not be complacent and remain static with mission and vision to expand into the global market and willing to compete with their counterparts from all over the world.

“They should make full use of the services by agencies under MITI such as SME Corp and Matrade to further develop their businesses,” added Mustapa.

He said the Government always acknowledged the main role played by the SMEs in nation development and with over 550,000 SMEs nationwide; they were the backbone of the country’s economy.

Mustapa said if the Government failed to develop and transform the SMEs despite having relevant agencies under MITI to render their services to the SMEs, the NEM would also fail.